Enbridge (TSE:ENB) Price Target Raised to C$67.00 at Royal Bank of Canada

Enbridge (TSE:ENB) (NYSE:ENB) had its target price raised by Royal Bank of Canada from C$63.00 to C$67.00 in a research note issued on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price objective indicates a potential upside of 9.48% from the company’s previous close.

A number of other research analysts also recently issued reports on ENB. Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the company an “equal weight” rating in a research report on Friday, October 25th. BMO Capital Markets increased their price objective on shares of Enbridge from C$59.00 to C$60.00 in a research report on Wednesday, December 4th. Scotiabank increased their price objective on shares of Enbridge from C$61.00 to C$65.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on shares of Enbridge from C$66.00 to C$69.00 in a research report on Thursday, December 5th. Finally, Jefferies Financial Group upped their target price on shares of Enbridge from C$59.00 to C$65.00 in a research note on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$63.23.

Enbridge Stock Performance

Enbridge stock traded up C$0.12 during mid-day trading on Tuesday, reaching C$61.20. 7,432,326 shares of the company’s stock were exchanged, compared to its average volume of 9,301,427. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. The business’s fifty day simple moving average is C$62.18 and its 200 day simple moving average is C$58.25. Enbridge has a one year low of C$45.39 and a one year high of C$65.62. The firm has a market capitalization of C$132.63 billion, a PE ratio of 19.89, a P/E/G ratio of 1.72 and a beta of 0.90.

Insider Transactions at Enbridge

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total value of C$66,293.64. Company insiders own 0.10% of the company’s stock.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.